Gambling in the USA

New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

Published

6 years ago

May 20, 2019

Niji Narayan

New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

Image Source: newyorkupstate.com

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The New York Lottery has recorded $8.2 billion in sales for the state fiscal year that ended in March 31, 2019. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state’s licensed video lottery locations.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators. The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery. The New York Lottery generated $3.47 billion in aid designated to support the state’s schools.

The lottery revenues are distributed to school districts according to the same formula used for state aid. A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13% of all state aid to education for 2018-2019.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.